WOOLWORTHS has added to the woes of Internet company Baltimore Technologies after details of the retailer's stock market listing emerged yesterday.

The high street firm, which is due to be spun off from Kingfisher on Tuesday, is taking Baltimore's place in the mid-size FTSE 250 Index.

The switch caps a grim week for the Dublin-based internet security company, which was in the FTSE 100 blue chip index last year.

Earlier this week, it announced plans to cut 220 jobs and ditch a number of non-core interests.

Index experts at FTSE said Baltimore would be listed as a SmallCap company.

They also assessed Woolworths' market capitalisation as £300m, based on Kingfisher's own £5.11bn valuation.

Woolworths' demerger was agreed by Kingfisher shareholders at an extraordinary general meeting in London yesterday.

Shares will begin trading on the London market on Tuesday, although it is thought the starting price could be as low as 23p.

The listing ends a long-running saga over the future of Woolies, which has former Railtrack boss Gerald Corbett as executive chairman.

Kingfisher announced last August it hoped to hive off its general merchandise arm to focus on growing its DIY and electrical arm internationally.

As part of that plan, it sold Superdrug to Dutch pharmacy chain Kruidvat for £310m last month.

Woolworths will be floated alongside Kingfisher's music chain, MVC, e-commerce music site Streets Online and Entertainment UK as part of a new Woolworths Group.

Kingfisher chairman Sir John Banham said the move would create improved performances.

He added: ''Kingfisher will now concentrate on further developing its core brands which have outstanding growth opportunities, both in Europe and globally.'